Frankel Enterprises Begins Construction of $145 Million Luxury Condominium Project
Pictured above left to right: Douglas Parry, Frankel Enterprises; William J. Gilbane, Jr.; Rob Martin, Decorators Unlimited; George Gentile; Gentile Glas Holloway and O'Mahoney; Marcie Tinsley, Council Member, City of Palm Beach Gardens; Raymond E. Graziotto, Seven Kings Holdings; Allen Ball, The Ball Group; Thomas Frankel, Frankel Enterprises; William Frankel, Frankel Enterprises; Max Frankel, Frankel Enterprises; Keith Spina, Glidden/Spina Architects
In a heartfelt speech, during the official ground breaking ceremony for Azure, Thomas Frankel, President of Frankel Enterprises thanked members of the Azure team and evoked the memory of E.J. Frankel who founded Frankel Enterprises in Philadelphia in 1936, and his sons; Benjamin, William, and Leonard Frankel who expanded the company to South Florida with development of projects such as Roney Plaza in Miami Beach, and Admiral's Cove in Jupiter. "My father, uncle Billy and uncle Ben taught me the real estate business, but more importantly, they taught me the meaning of integrity. I believe one of the reasons Azure has experienced early success is due to the reputation of the Frankel family name."
Palm Beach Gardens, FL-Construction has begun on the $145 million luxury waterfront condominium community of AZURE. Developer, Tom Frankel, of Jupiter and Philadelphia based Frankel Enterprises "broke ground" this week for the first of two planned mid-rise condominium buildings overlooking a deep water yacht harbor at Donald Ross Road and the Intracoastal Waterway in Palm Beach Gardens. He was joined by members of the Frankel family, architects Keith Spina, land planner George Gentile and William J. Gilbane, Vice Chairman of Gilbane Building Company, Marcie Tinsley Council Member, City of Palm Beach Gardens.
Frankel used a silver shovel to officially break ground--citing a family tradition, begun by E.J. Frankel in 1936, and repeated during 40 residential and commercial project ground breakings by Frankel Enterprises over the past 75 years including those of Admiral's Cove, Valencia at Abacoa and San Michele.
The city of Palm Beach Gardens approved the project last summer for 113 units to be built on 14 acres at the Intracoastal Waterway and Donald Ross Road. Sales of AZURE's luxury condominium residences began in November with immediate acceptance from the local market. Fifty million dollars in sales have been recorded. As of the ground breaking, Frankel had sold 38 of the 46 residences in Azure's first building at prices ranging from $975,000 to $2.5 million. Later this month he plans to commence sales of residences within AZURE's final building with floor plans ranging from 2,600 to 5,300 sq. ft.
"We found that at the top of the condominium market there exists a demand for exceptionally large residences," says Frankel. Frankel further noted additional factors in Azure's success including: the project's location one mile from the beach and PGA Boulevard shopping; a protected deep water yacht harbor with dockage for boats to 120 feet; concierge services; two resort pools; a community fitness center and gated entry.
Gilbane Building Company estimates that construction of AZURE's first building will be completed in the Spring/Summer of 2016. Gilbane is a global leader in construction services and is known for iconic residential, commercial and government buildings such as the Smithsonian Air and Space Museum, the National Capitol Visitors Center and the Vietnam War Memorial. The company was recently awarded the contract to manage the comprehensive expansion and renovation of the Norton Museum of Art in Palm Beach County.
For more information, contact: Thomas Frankel, Developer or Allen Ball, Director of Sales at 561-406-6200